2334 Sanbar Rd #104 · Graford, TX 76449

$74,000

2 bd · 2.0 ba · 720 sqft · Manufactured · 127 Days on market

Built 1999 Good condition 4,269 sqft lot $103/sqft · 6% above area Est $70k · 6% over ↓ 25% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.9/15.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLERS INVITE YOU TO BRING OFFERS on this lake place where you can enjoy lake life tranquility without breaking the bank! Situated in Golden Cove at the end of the Possum Kingdom Lake peninsula, on the Broadway section of the lake where you'll be a close boat ride to Hell's Gate, the dam, several lake side dining spots, or your favorite cove. This adorable place makes a perfect weekend getaway, summer vacay destination, retirement spot, or even full-time home if you are looking for a peaceful connection with nature. Shady oak trees, sandy shorelines, deer freely wandering, plenty of birds to watch, amazing sunsets to enjoy & cool clear water to play in ~ what more could you need?! The large covered deck provides ample space for cookouts, socializing, or storage. Gravel around the back & end for low maintenance lawn care, & plenty of parking, with still a bit of grass to give the deer a napping spot under the tree. Inside you'll find an open floor plan with one bedroom & bathroom on each end of the house & an updated kitchen with stainless appliance package. Easy care flooring, nearly new SS appliances, stacked washer & dryer in the hallway, many recent upgrades including fresh paint, a new propane tank (owned, not leased), increased electrical amperage & outdoor plugs, smart thermostat with distance remote operation,& improved AC duct work. Some furnishings could be negotiable, or you can refurnish with your own style. A big surprise with this property is how quiet it is inside...once you close the door, you can't even hear what's going on in the neighborhood! But if you want to know, the Golden Cove community is like having a built-in lake family ~ love your neighbors is a way of life here! No short term rental use permitted; lot lease is currently around $865 per month; land owner pays property taxes on the lot, owner pays on the improvements. Community amenities: use of boat ramp, dock, swim cove, private community events, cabins to rent, & much more.

Key facts

• New propane tank
• Easy care flooring
• Large covered deck

Tags

• LARGE COVERED DECK
• STAINLESS APPLIANCE PACKAGE
• EASY CARE FLOORING
• NEW PROPANE TANK
• INCREASED ELECTRICAL AMPERAGE
• SMART THERMOSTAT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $74k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $65k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.9% vs local median 1.3% in Graford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#856 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D+, schools D-.
• Graford ISD (rural): math 35% / reading 40% proficiency, ranked #817 of 1,141 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 465 active listings in the ZIP; 27 units permitted in Palo Pinto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $512 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Palo Pinto County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $65,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.84% ✓
• Cap rate: 24.94%
• Cash-on-cash: 66.60%
• DSCR: 3.96
• GRM: 2.9

CMA / ARV

• ARV (median comp): $70,000
• List price: $74,000
• Delta: 5.71%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2334 Sanbar Rd #41	0.00mi	2/1.5	720 (0%)	22mo	$69,000	$96	79

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.9%
• Equity multiple: 3.96×
• Total profit: $61,277
• Equity at exit: $11,034

10-year hold

• IRR: 70.2%
• Equity multiple: 8.13×
• Total profit: $147,792
• Equity at exit: $6,398

Cash invested: $20,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76449

• Home prices YoY: -27.7%
• Active inventory: 465
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,103 medium
• Mortgage (P&I): −$388
• Tax est. 1.5%: −$92 /mo · $1,110/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $1,150

Break-even live

Break-even rent $647

Max offer price $74,000

Occupancy floor 40%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $74,000 Active 127 DOM
2. 2026-06-18
   days on market $74,000 Active 126 DOM
3. 2026-06-17
   days on market $74,000 Active 125 DOM
4. 2026-06-16
   days on market $74,000 Active 124 DOM
5. 2026-06-15
   days on market $74,000 Active 123 DOM
6. 2026-06-14
   days on market $74,000 Active 121 DOM
7. 2026-06-12
   days on market $74,000 Active 120 DOM
8. 2026-06-09
   days on market $74,000 Active 117 DOM
9. 2026-06-08
   days on market $74,000 Active 116 DOM
10. 2026-06-07
    days on market $74,000 Active 115 DOM
11. 2026-06-05
    days on market $74,000 Active 113 DOM
12. 2026-06-04
    days on market $74,000 Active 111 DOM
13. 2026-06-02
    days on market $74,000 Active 110 DOM
14. 2026-06-01
    days on market $74,000 Active 109 DOM
15. 2026-05-31
    days on market $74,000 Active 108 DOM
16. 2026-05-31
    days on market $74,000 Active 107 DOM
17. 2026-04-17
    price $74,000 2035-char remark

    Show marketing remark (2035 chars)

    MOTIVATED SELLERS INVITE YOU TO BRING OFFERS on this lake place where you can enjoy lake life tranquility without breaking the bank! Situated in Golden Cove at the end of the Possum Kingdom Lake peninsula, on the Broadway section of the lake where you'll be a close boat ride to Hell's Gate, the dam, several lake side dining spots, or your favorite cove. This adorable place makes a perfect weekend getaway, summer vacay destination, retirement spot, or even full-time home if you are looking for a peaceful connection with nature. Shady oak trees, sandy shorelines, deer freely wandering, plenty of birds to watch, amazing sunsets to enjoy & cool clear water to play in ~ what more could you need?! The large covered deck provides ample space for cookouts, socializing, or storage. Gravel around the back & end for low maintenance lawn care, & plenty of parking, with still a bit of grass to give the deer a napping spot under the tree. Inside you'll find an open floor plan with one bedroom & bathroom on each end of the house & an updated kitchen with stainless appliance package. Easy care flooring, nearly new SS appliances, stacked washer & dryer in the hallway, many recent upgrades including fresh paint, a new propane tank (owned, not leased), increased electrical amperage & outdoor plugs, smart thermostat with distance remote operation,& improved AC duct work. Some furnishings could be negotiable, or you can refurnish with your own style. A big surprise with this property is how quiet it is inside...once you close the door, you can't even hear what's going on in the neighborhood! But if you want to know, the Golden Cove community is like having a built-in lake family ~ love your neighbors is a way of life here! No short term rental use permitted; lot lease is currently around $865 per month; land owner pays property taxes on the lot, owner pays on the improvements. Community amenities: use of boat ramp, dock, swim cove, private community events, cabins to rent, & much more.

18. 2026-02-12
    listed $84,000 Active 2035-char remark

    Show marketing remark (2035 chars)

    MOTIVATED SELLERS INVITE YOU TO BRING OFFERS on this lake place where you can enjoy lake life tranquility without breaking the bank! Situated in Golden Cove at the end of the Possum Kingdom Lake peninsula, on the Broadway section of the lake where you'll be a close boat ride to Hell's Gate, the dam, several lake side dining spots, or your favorite cove. This adorable place makes a perfect weekend getaway, summer vacay destination, retirement spot, or even full-time home if you are looking for a peaceful connection with nature. Shady oak trees, sandy shorelines, deer freely wandering, plenty of birds to watch, amazing sunsets to enjoy & cool clear water to play in ~ what more could you need?! The large covered deck provides ample space for cookouts, socializing, or storage. Gravel around the back & end for low maintenance lawn care, & plenty of parking, with still a bit of grass to give the deer a napping spot under the tree. Inside you'll find an open floor plan with one bedroom & bathroom on each end of the house & an updated kitchen with stainless appliance package. Easy care flooring, nearly new SS appliances, stacked washer & dryer in the hallway, many recent upgrades including fresh paint, a new propane tank (owned, not leased), increased electrical amperage & outdoor plugs, smart thermostat with distance remote operation,& improved AC duct work. Some furnishings could be negotiable, or you can refurnish with your own style. A big surprise with this property is how quiet it is inside...once you close the door, you can't even hear what's going on in the neighborhood! But if you want to know, the Golden Cove community is like having a built-in lake family ~ love your neighbors is a way of life here! No short term rental use permitted; lot lease is currently around $865 per month; land owner pays property taxes on the lot, owner pays on the improvements. Community amenities: use of boat ramp, dock, swim cove, private community events, cabins to rent, & much more.

19. 2026-01-31
    historical
20. 2025-07-25
    listed $84,000 Active
21. 2024-05-01
    historical
22. 2024-02-20
    price $79,900
23. 2024-01-03
    price $85,000
24. 2023-10-18
    price $89,000
25. 2023-07-21
    listed $99,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,235
• − Mortgage interest: −$4,145
• − Property taxes: −$1,110
• − Insurance: −$370
• − Repairs & maintenance: −$2,019
• − Management: −$2,019
• − Depreciation: −$2,153
• Taxable income: $13,419
• Est. tax owed @ 24.0%: −$3,221
• After-tax cash flow: $10,578/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a good condition score of 80. It is move-in ready with minor cosmetic updates that would significantly increase its value.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the window screens — Improves comfort and energy efficiency
• Both Install a smart thermostat — Saves energy and increases comfort

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the window screens — Improves comfort and energy efficiency ↑
• Both Install a smart thermostat — Saves energy and increases comfort ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Graford ISD
• NCES district ID: 4821330
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $43,275
• Composite: 34.3/100
• National rank: #10225
• State rank: #817 of 1141 in TX

Livability — Graford

• Score: 63/100
• State rank: #856
• US rank: #15394

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety D+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,157

Population outlook (Palo Pinto County) Hauer SSP2

• Today (2025): 27,500 people
• By 2030: 27,079 · -1.5%
• By 2040: 26,135 · -5.0%
• By 2050: 25,215 · -8.3%
• By 2075: 23,416 · -14.9%
• By 2100: 20,300 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 1% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Palo Pinto

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -18.9pp toward R · 2008: -48.2pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+64.1 2016: R+64.1 2012: R+59.8 2008: R+48.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.53%
• Current HPI: 241.6435
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-25.3% since first listed

9 events — show timeline

• 2026-04-17 Price Changed $74,000 NTREIS
• 2026-02-12 Listed $84,000 NTREIS
• 2026-01-31 Listing Removed — NTREIS
• 2025-07-25 Listed $84,000 NTREIS
• 2024-05-01 Listing Removed — NTREIS
• 2024-02-20 Price Changed $79,900 NTREIS
• 2024-01-03 Price Changed $85,000 NTREIS
• 2023-10-18 Price Changed $89,000 NTREIS
• 2023-07-21 Listed $99,000 NTREIS